Guardant Health, Inc. $GH Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Guardant Health stake by 19.8% in the third quarter, selling 80,084 shares; it retained 324,732 shares valued at about $57.9 million.
• Institutional investors own 92.6% of the company’s stock. Analysts’ consensus is “Moderate Buy,” with an average price target of $191.
• Guardant Health shares opened at $175, near their $191.05 52-week high; company insiders sold 163,060 shares worth about $27.5 million over the past 90 days.

Sumitomo Mitsui Trust Group Inc. cut its stake in Guardant Health, Inc. (NASDAQ:GH - Free Report) by 19.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 324,732 shares of the company's stock after selling 80,084 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Guardant Health worth $57,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. ABS Investment Management LLC acquired a new stake in shares of Guardant Health in the second quarter valued at approximately $345,069,000. MCF Advisors LLC raised its position in Guardant Health by 755.0% in the 2nd quarter. MCF Advisors LLC now owns 171 shares of the company's stock worth $26,000 after purchasing an additional 151 shares during the last quarter. NFSG Corp bought a new position in Guardant Health in the 3rd quarter worth approximately $33,000. Root Financial Partners LLC bought a new position in Guardant Health in the 3rd quarter worth approximately $48,000. Finally, TrinityBridge Ltd acquired a new position in Guardant Health during the 2nd quarter worth $45,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Stock Performance

GH opened at $175.00 on Wednesday. The company has a fifty day moving average price of $169.95 and a two-hundred day moving average price of $131.33. The firm has a market capitalization of $23.48 billion, a PE ratio of -50.14 and a beta of 1.67. Guardant Health, Inc. has a 52 week low of $74.55 and a 52 week high of $191.05.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Sanford C. Bernstein reissued an "outperform" rating and issued a $210.00 target price on shares of Guardant Health in a research note on Thursday, September 10th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 price target on shares of Guardant Health in a research note on Friday, July 31st. Royal Bank Of Canada raised their price target on Guardant Health from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Citigroup raised their price target on Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, TD Cowen reiterated a "buy" rating on shares of Guardant Health in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $191.00.

Insider Transactions at Guardant Health

In other news, insider Chris Freeman sold 63,605 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the completion of the transaction, the insider directly owned 65,374 shares in the company, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Darya Chudova sold 7,738 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $178.00, for a total value of $1,377,364.00. Following the completion of the sale, the chief technology officer directly owned 70,635 shares of the company's stock, valued at approximately $12,573,030. This trade represents a 9.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 163,060 shares of company stock valued at $27,538,217. Corporate insiders own 5.60% of the company's stock.

Guardant Health Profile

Guardant Health, Inc NASDAQ: GH is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.

The company's products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient's response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.

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